but these are not normal circumstances. Banks have to make themselves stronger than they are, yet the only way to do this is to claw back some stuff from something that is delicate in itself, they will be adopting new strategies to try to cope.

Its brave though, specially since hsbc said they wont....hopefully the gov will lean on RBS and northern rock too and with that then HSBC might reconsider (although i suspect they will sit tight and hope the others look foolish)

then that is good for everyone, im not an hsbc watcher so I was worried for a bit that their quick announcement might have scuppered not only this rate cut, but also convince gov/boe that it is impotent/